NFIB Optimism Index Remains Unchanged

The small business optimism index remains unchanged, at a moderate 96.1 in October. In confirmation of tightness in the labor market, small businesses continue to report the most difficulty in finding qualified workers since 2007. And small businesses are looking for new employees with hiring plans remaining solid, and they are especially looking to increase capital outlays which is a key indication of confidence in their own business outlook. Earnings trends, however, are decidedly negative and the general outlook for the economy is soft.

Recent History Of This Indicator:
The small business optimism index has been very solid, especially employment where hiring plans have been at their best levels of the year. And in a hint of wage pressures to come, small businesses have been reporting the most difficulty of the recovery in finding qualified employees. Capital outlays in this report have also been positive.